Financial advisers for Orange County, Calif., are asking Wall Street firms to come up with a plan to restructure the county's massive financial liabilities through the sale of municipal bonds.

Executives at Salomon Brothers Inc. last Wednesday mailed request for proposal documents to as many as 17 municipal market firms, asking for ideas on how the financially trouble county could issue bonds "in connection with a restructuring [of its] financial liabilities."

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.